Section 1031 Tax-Deferred Exchanges
Chances are good that, if it hasn't happened yet, you will one day work on a transaction involves a property that’s part of a tax-deferred exchange. When this happens, will you be ready to guide your client through the process and ensure they meet the critical deadlines?
With an appropriately formed exchange, an investor can defer paying taxes on the profit from one investment and instead use all of the profits to fund another investment.
This course helps licensees become more comfortable with guiding clients through a 1031 tax-deferred exchange transaction and ensuring critical deadlines are understood and met.
Course highlights include:
- Section 1031 tax-deferred exchange definitions
- Starker’s Exchange background and application
- U.S. Internal Revenue Code requirements
- IRS Safe Harbor Guidelines
- Investor taxes advantages
- Setting up an exchange
- Selecting a Qualified Intermediary
- Licensee role in a Section 1031 tax-deferred exchange
- The non-exchanger's role in a Section 1031 transaction
- Reverse exchanges
- Rare exemptions to exchange deadlines
State Requirements For Illinois
Illinois State Requirement Details for Real Estate Broker Continuing Education
The Illinois Division of Real Estate has implemented new education requirements to reflect recent changes to the Illinois Real Estate License Act of 2000. The 2026 Broker Renewal deadline is April 30, 2026. The 4-hour Core course, if completed prior to June 30, 2025, will satisfy the Core requirement for this renewal. However, the Division strongly recommends completion of the 6-hour Core course, which includes at least 2 hours of fair housing training, to satisfy the Core requirement for this renewal.
Renewal Date: April 30th of even-numbered years
Hours Required by the State: 12 hours
- 6-hour core course (or 4-hour core course if completed prior to June 30, 2025)
- 6 hours of elective courses (or 8 hours of elective courses if the 4-hour core course was completed prior to June 30, 2025) including
- 1-hour course in Sexual Harassment Prevention Training
Note: Brokers receiving their initial broker license are required to complete the 45-hour post-license education during their first license term and are not required to complete any other CE during that license term.
Illinois Department of Financial and Professional Regulation Division of Real Estate
Street Address: 320 West Washington Street, 3rd Floor, Springfield, Illinois 62786
Mailing Address: 320 West Washington Street, 3rd Floor, Springfield, Illinois 62786
Telephone: (800) 560-6420
Email: fpr.realestate@illinois.gov